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ARGENTINA: Milei Doubles Down on Pledge to Withdraw FX, Capital Controls

ARGENTINA
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  • Argentina inflation for November is set for release later today, with markets expecting Y/Y CPI to slow to 167% from 193%, although monthly CPI is seen holding more stable.
  • President Milei meanwhile appears on a podcast, and his comments will be watched for any reference to his pledges to axe capital and currency controls in Argentina next year as he looks toward the USA for a free trade agreement. The plans come as the parallel and official ARS FX rates continue to converge, which could smooth the passage of a transition away from formal currency control.
  • In a video posted by Infobae, Milei also noted that the government will not have the time for a shutdown of the central bank next year, a process that will take four years to complete, and he is still too early in his term.
  • The finance ministry are set to sell Treasury bonds and notes as part of a local debt auction later today at 3pm local time (1800GMT).
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  • Argentina inflation for November is set for release later today, with markets expecting Y/Y CPI to slow to 167% from 193%, although monthly CPI is seen holding more stable.
  • President Milei meanwhile appears on a podcast, and his comments will be watched for any reference to his pledges to axe capital and currency controls in Argentina next year as he looks toward the USA for a free trade agreement. The plans come as the parallel and official ARS FX rates continue to converge, which could smooth the passage of a transition away from formal currency control.
  • In a video posted by Infobae, Milei also noted that the government will not have the time for a shutdown of the central bank next year, a process that will take four years to complete, and he is still too early in his term.
  • The finance ministry are set to sell Treasury bonds and notes as part of a local debt auction later today at 3pm local time (1800GMT).